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REGISTERED NUMBER: 11131901 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2024

for

South Coast Bakery Limited

South Coast Bakery Limited (Registered number: 11131901)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


South Coast Bakery Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: K Sanders
Mrs N M Sanders





SECRETARY:





REGISTERED OFFICE: Unit 2
Polean Ind Est
Looe
Cornwall
PL13 2AL





REGISTERED NUMBER: 11131901 (England and Wales)





ACCOUNTANTS: Derek Cousens Ltd
Chartered Accountants
20 Crockwell Street
Bodmin
Cornwall
PL31 2DS

South Coast Bakery Limited (Registered number: 11131901)

Balance Sheet
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 16,989 21,322
Tangible assets 5 93,687 99,718
110,676 121,040

CURRENT ASSETS
Stocks 15,000 15,000
Debtors 6 7,399 8,284
Cash in hand 830 826
23,229 24,110
CREDITORS
Amounts falling due within one year 7 89,371 74,597
NET CURRENT LIABILITIES (66,142 ) (50,487 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

44,534

70,553

CREDITORS
Amounts falling due after more than one
year

8

19,348

29,701
NET ASSETS 25,186 40,852

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 25,086 40,752
25,186 40,852

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

South Coast Bakery Limited (Registered number: 11131901)

Balance Sheet - continued
31 January 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 March 2024 and were signed on its behalf by:





K Sanders - Director


South Coast Bakery Limited (Registered number: 11131901)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

South Coast Bakery Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

South Coast Bakery Limited (Registered number: 11131901)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2023 - 16 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2023
and 31 January 2024 43,333
AMORTISATION
At 1 February 2023 22,011
Charge for year 4,333
At 31 January 2024 26,344
NET BOOK VALUE
At 31 January 2024 16,989
At 31 January 2023 21,322

South Coast Bakery Limited (Registered number: 11131901)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 February 2023 43,333 121,384 164,717
Additions - 26,442 26,442
Disposals - (10,500 ) (10,500 )
At 31 January 2024 43,333 137,326 180,659
DEPRECIATION
At 1 February 2023 8,804 56,195 64,999
Charge for year 1,734 22,339 24,073
Eliminated on disposal - (2,100 ) (2,100 )
At 31 January 2024 10,538 76,434 86,972
NET BOOK VALUE
At 31 January 2024 32,795 60,892 93,687
At 31 January 2023 34,529 65,189 99,718

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 February 2023 22,495
Additions 12,500
Disposals (10,500 )
At 31 January 2024 24,495
DEPRECIATION
At 1 February 2023 6,898
Charge for year 4,899
Eliminated on disposal (2,100 )
At 31 January 2024 9,697
NET BOOK VALUE
At 31 January 2024 14,798
At 31 January 2023 15,597

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 6,597 6,199
Other debtors 802 2,085
7,399 8,284

South Coast Bakery Limited (Registered number: 11131901)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 24,832 35,316
Hire purchase contracts 6,538 6,478
Trade creditors 8,420 7,965
Taxation and social security 6,037 5,896
Other creditors 43,544 18,942
89,371 74,597

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 12,995 23,249
Hire purchase contracts 6,353 6,452
19,348 29,701

9. RELATED PARTY DISCLOSURES

The company has been loaned £43,544 (2023 £18,942) by its directors. There is no fixed date for repayment of the loan and no interest has been charged in the period of these accounts.